The SHOCKING Feature Driving Home Purchases | Hot Sheet 04/14/23
BAM Hot Sheet
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The Market Is Pricing in a 90% Certainty of a Fed Rate Hike
The markets have priced in at a 90% certainty that there will be one more Fed rate hike. Despite repeated pushback from central bankers, the market is now betting on three rate cuts this year from that peak. Four out of five participants in a survey by the International Association of Credit Portfolio Managers expect a US recession in 2023 and a rise in corporate defaults. The US junk bond market shrank to 1.4 trillion down 11% from its peak in October 2021.
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